Dow Drops Over 500 Points as Inflation Dents US Rate-Cut Hopes

Dow drops over 500 points as hot inflation data dents US rate-cut hopes Hotter-than-anticipated inflation has dampened hopes for a quick Fed policy pivot. The Dow Jones lost well over 700 points at one point, while the S&P 500 fell below the 5,000 threshold. Odds of a rate cut in May dropped to 35% from 64%. US stocks sank from all-time highs as January’s inflation data came in hotter than anticipated, disappointing hopes for a pivot in monetary policy. The latest consumer price index climbed 0.3% month-over-month and 3.1% from a year prior, ahead of expectations for a 0.2% and…